Fidelity National Information Breaks Back Into The Black
JACKSONVILLE, Fla. – Fidelity National Information Services, fueled by a 9% growth in revenue, reported strong earnings of $110.6 million for its fourth quarter.
The profit compares to a loss of $53.9 million in the fourth quarter of 2009, when costs related to its acquisition of Metavante Technologies pushed it into the red.
Fourth quarter highlights included the acquisition of Capco, a privately held consultancy, for $292 million.
For the full fiscal year FIS reported a 42% surge in revenues, because of the Metavante addition, to $5.3 billion, and a tripling in net income to $357.9 million.